Move in Ready and not impacted by recent storms. Looking for a beautiful, vintage home in the Indian Beach neighborhood one block from a Sarasota Bayfront park? What if that home came with established, lucrative rental units providing built-in income? This opportunity might have it all for someone seeking a live/work situation in a highly desirable location. Historic charm abounds with stone porches, arched doorways, interior cypress panelling, beamed ceilings and a cozy fireplace. Yet, the amenities are updated and modern including stainless appliances, granite countertops and newer fixtures. The current floor plan allows for the owner's two bed, one & one half bath residence including an office, utility and private back yard retreat. There is also a two bed, one bath In-Law suite referred to as "romantic" and "pristine" in customer reviews. This idyllic getaway has a private, heated pool and tropical lanai. In addition, you'll find a one bed, one bath accessory dwelling unit with its own private pool and spa. Recently, a fully permitted additional bed/bath garage conversion was added to increase the potential of this opportunity. Each unit is spacious and distinctly seperate from the other allowing maximum privacy. Few details have been overlooked in this renovated ranch on a large corner parcel recognized by the City as multi-family. This property is nestled among the city's most significant cultural and educational institutions. Just two miles north of downtown and a short jaunt over the John Ringling Bridge to the beaches of Lido and Longboat Key.
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Our Executive Mortgage Banker:
Our Insurance Division:
$1,999,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
RVP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 917.838.7300
Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $1,599,200 | $1,599,200 | $1,599,200 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.750% | 6.625% | 6.625% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.620% | 6.735% | 6.806% |
Monthly Tax Payment | $545 | $545 | $545 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $10,372 | $10,240 | $14,041 |
Total Monthly Payment | $11,042 | $10,910 | $14,711 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.